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Economic activity in the manufacturing sector expanded in April for the 11th consecutive month, and the overall economy grew for the 59th consecutive month, according to the latest Manufacturing ISM Report on Business.
The PMI registered 54.9 percent, an increase of 1.2 percentage points from March’s reading of 53.7 percent.
The New Orders Index remained unchanged in April at 55.1 percent.
The Employment Index registered 54.7 percent, an increase of 3.6 percentage points compared to March’s reading of 51.1 percent. April marks the tenth consecutive month of employment growth.
Of the 18 manufacturing industries, 17 are reporting growth in April in the following order: Apparel, Leather & Allied Products; Primary Metals; Furniture & Related Products; Miscellaneous Manufacturing; Food, Beverage & Tobacco Products; Transportation Equipment; Fabricated Metal Products; Machinery; Printing & Related Support Activities; Plastics & Rubber Products; Textile Mills; Chemical Products; Computer & Electronic Products; Wood Products; Paper Products; Petroleum & Coal Products; and Electrical Equipment, Appliances & Components.
The one industry reporting contraction in April is Nonmetallic Mineral Products.
Comments from the panel generally reflect that the economy is improving, with a strong outlook for the rest of 2014.